As individuals age, they are at a higher risk of illnesses or injuries that may incapacitate them. This is why it is essential to consider who may be able to make financial and health decisions on behalf of an elderly relative if they are incapacitated. By establishing power of attorney, you can avoid the confusion and conflict that often results if someone can no longer make critical decisions for themselves. As you establish Florida durable power of attorney in Palm Beach County, it is necessary to work with an estate planning attorney. Aaron D. Millman, Esq., CPA, founded the Millman Law Group in 2018 to help families navigate this complex process.
The Responsibilities of Durable Power of Attorney
Your lawyer will establish power of attorney with a document. The principal, or person assigning this power, designated an agent to act on their behalf. The principal then specifies the powers granted, and the POA is in effect once the document is signed.
Any person granted Florida durable power of attorney in Palm Beach County will have total control over the principal’s estate. The agent can then:
- Manage accounts
- File tax returns
- Buy and sell properties
- Make medical care decisions
The agent is held legally responsible for their actions and must record all decisions they make on behalf of the principal.
Why Work With a Lawyer?
Creating durable power of attorney can be beneficial but complex, so it’s always best to work with an estate planning lawyer. Your lawyer at The Millman Law Group will help you decide which powers you should assign. If some powers are not mentioned, the agent may not be able to meet your future needs. As the principal, you can also name successor agents or co-agents for additional peace of mind.
After a principal dies, their estate documents will dictate all financial matters. People can grant the same person both durable power of attorney and executorship, but they do not have to. An experienced estate planning lawyer can help you navigate these many decisions.
Enjoy Peace of Mind with Durable Power of Attorney
If you fail to grant Florida durable power of attorney in Palm Beach County, a court-appointed guardian gains control. This can be problematic for many families, especially when an elderly relative has particular wishes for their health if they experience a mental decline.
A durable power of attorney can be a great way to plan for the unexpected. However, everyone involved must be on the same page. Your Millman Law Group attorney will guarantee that you and your family make the best decision for your future.
Contact The Millman Law Group To Establish Florida Durable Power of Attorney in Palm Beach County
Millman Law Group, PLLC is one of the only law firms that offers life planning in South Florida. From life care planning to the preparation of detailed estate plans, Millman Law Group has committed to serving Floridian elderly communities in Boca Raton, Palm Beach County, Ocean Ridge, Hillsboro Beach, and many other areas since 2018. Our dedicated team specializes in special needs trusts and catering to any age demographic because we know that it’s never too early to start preparing for your future. For the latest news in estate planning and elder care law, follow us on Facebook, Twitter, LinkedIn, and Pinterest. You can also contact us at 561-463-6480.